Dumas, Texas Economy Ranked #52 in National Economic Strength Rankings

NEWS RELEASE

4/30/2015 – Dumas, Texas Economy Ranked #52 in National Economic Strength Rankings
DUMAS, TEXAS — Dumas, Texas was ranked the 52nd best economy out of 536 cities in the nation by Policom Corporation’s Economic Strength Rankings; a jump of 84 places over last year’s ranking of 136 and the highest ranking yet achieved for the city. Dumas’ ranking was #4 of 43 Micropolitans in the state of Texas and marks the 6th year that Dumas has been in the Texas top 10 list and overwhelmingly remaining the top Micropolitan economy in the Texas Panhandle.

POLICOM addresses the condition of an economy from the viewpoint of its impact upon the “standard of living” of the people who live and work in an area. The economic strength rankings are created so POLICOM can study the characteristics of strong and weak economies. The highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time. The lowest ranked areas have been in volatile decline for an extended period of time. Micropolitan Statistical Areas are typically quasi rural areas. A Micropolitan must have an urbanized area (city) with a population of at least 10,000 but less than 50,000 and must be at least one county. There are 536 identified Micropolitan Areas in the United States. Economic strength is the long term tendency for an area to consistently grow in both size and quality.
Dumas has experienced  economic growth and new business activity consistently for the last 6 years as the Dumas EDC successfully recruited and assisted 35 new businesses in Dumas in that period.  Firms such as CVS Pharmacy, Sears, Specialized Dairy Services, Nelson-Jameson, Sally’s Beauty, Equipment Supply Company, Inc. and Anytime Fitness are just a few of the numerous newest businesses attracted to the community. Executive Director of Economic Development Mike Running says, “Efforts to grow and strengthen our economy are critical. This ranking, among others, is an indication that our efforts to grow the local economy are working. Dumas continues to trend in the right direction and we can take pride in that.”
The Dumas EDC is currently working with additional new exciting businesses expected to open in the coming months. Firms such as Dominos, Little Caesars, and Horizon Ag have opened or will be opening soon and the Dumas EDC has successfully launched a Film Industry campaign in order to help capture additional economic opportunities. The latest, an independent film, is a suspense titled “Kreep” and stars Judd Nelson and Lymari Nadal. The EDC helped to finance several aspects of the film in exchange for the numerous crew and cast locating in the community for 4 weeks. Another film expected to launch this summer is a large budget family Christmas film titled “Southern Christmas” A majority of the cast and crew will be hired locally and the project will actually utilize the community as a character.
New speculative buildings, new commercial properties, a new speculative business aviation hangar and an improved Dumas Business Park are all projects available and prepared by the Dumas EDC for the anticipated continued growth. To incentivize new prospective businesses, the Dumas EDC has developed several innovative programs to assist local businesses, help new businesses start and attract expanding and relocating businesses for the community.
“This ranking is a testimony to the positive interaction our community leaders and business leaders have in Dumas, and it just goes to show that when a community can work together as well as we do, good things happen. Dumas is a great place to do business and it continues to get even better.”
For more information about the Policom Corporation Top Micropolitans, visit http://www.policom.com
For more information about the Dumas Economic Development Corporation, visit www.dumasedc.org